74tbspeed
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Then should I reclaim the full 10% penalty (of the $40k) or only what is equal to loss of income 4% (about $16k)?It's unclear, what do other people do?
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I think that is my confusion, maybe I'm thinking tax exemption, but it is the 10% penalty that is not applied.Thanks!
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But the furlough is cause by Covid-19.
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Is the 10% penalty automatically calculated when filing using TurboTax?I took a total distribution of my 401k and they withheld 22% including for federal and st...
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- Posted Re: Early 401k distribution, reduce tax on Get your taxes done using TurboTax. February 7, 2021 7:35 AM
- Posted Re: Early 401k distribution, reduce tax on Get your taxes done using TurboTax. February 6, 2021 8:31 PM
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- Cheered Re: No. The payments that you had withheld were only estimate... for VolvoGirl. February 3, 2020 5:49 PM
- Posted Re: No. The payments that you had withheld were only estimate... on Retirement tax questions. February 3, 2020 4:35 PM